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May 17, 2024 |
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| Home > Small Business Lenders by State > Pennsylvania Business Loan Sources > Clarksburg, Business Loans > Comvest Export Finan Company I Clarksburg Business Loans > Engineering Services Loan | ||||
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Comvest Export Finan Company I
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Fort Washington, Pennsylvania Business Gets SBA-Guaranteed Funding from Comvest Export Finan Company IComvest Export Finan Company I and the SBA work together to get business loans for growing small businesses. Here's an example of how a Pennsylvania entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Fort Washington, Pennsylvania was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Comvest Export Finan Company I, operating out of Clarksburg, West Virginia. Here are the details on this Pennsylvania small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender COMVEST EXPORT FINAN COMPANY I The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 10/9/2001 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Banks for Clarksburg, West Virginia Loans
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